EU Pres. von der Leyan on the strike by Russian forces in Kyiv that included a hit on the EU offices:
- Putin must come to the negotiating table
- We must secure a just and lasting peace for Ukraine with firm and credible security guarantees that will turn the country into a steel porcupine.
- The EU will fully play its part.
Meanwhile, Russia’s off-line primary oil refining capacity reached a record monthly high of 6.4 million tons in August. That is +65% from prior estimates. Ukraine drone attack disrupted 70% of capacity equating to roughly 1.2 million barrels per day. According to the report, fuel production is expected decline by around 5% in July.
Yesterday the Trump administration started to talk again about additional sanctions. Tariffs on India also went up to 50% from 25% as a result of their purchases of Russian oil. Officials said that the tariff rate would come down if they stopped purchasing the Russian oil.
